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DEVELOPMENT CONTRACT <br /> (Site Grading Only) <br /> Grandview <br /> THIS AGREEMENT made this 13'' day of August, 2007, is by and between the <br /> City of Lino Lakes, whose address is 600 Town Center Parkway, Lino Lakes, Minnesota, 55014, a <br /> municipal corporation organized under the laws of the State of Minnesota, hereinafter referred to as <br /> the "City", and Royal Oaks Realty whose address is 4196 Lexington Ave, Shoreview, Minnesota <br /> • 55126 hereinafter referred to as the "Developer". <br /> WHEREAS, the Developer has received preliminary plat approval from the City <br /> Council for a plat of land within the corporate limits of the City known as Grandview hereinafter <br /> called"Subdivision", said land is legally described to-wit <br /> Tracts B and C, Registered Land Survey No. 182, Anoka County, Minnesota <br /> WHEREAS, the Developer has requested approval to commence with site grading <br /> activities, and <br /> WHEREAS, the City Subdivision Ordinance and Minnesota Statute 462.358 <br /> authorize the City to enter into a performance contract secured by cash escrow or other security to <br /> guarantee completion and payment of such improvements following final approval; and <br /> NOW, THEREFORE, in consideration of the mutual promises of the parties made <br /> herein, <br /> IT IS AGREED BY AND BETWEEN THE PARTIES HERETO: that the <br />